Optical absorption and emission spectral studies of various phthalocyanine (Pc) molecules in PVA matrix have been reported for the first time. The recorded spectra are analyzed to get the important spectral parameters, such as optical absorption cross-section (σa), emission cross-section (σe), oscillator strength (f), fluorescence bandwidth (Δλ), emission wavelength (λ), radiative decay time (τ) and optical gain (G). Analysis shows that the emission cross-section and optical gain are maximum in the NdHPc2-doped PVA matrix. However, a comparison of the calculated emission parameters with that of borate glass matrix show that they are many times smaller in the present matrix.